Rio Tinto faces $84bn shareholder revolt over membership of Minerals Council

Global shareholders file motion calling for rethink on membership of coal lobby groupsThe voice of Australia’s coal lobby is under renewed threat as the country’s second biggest miner, Rio Tinto, faces a shareholder revolt over its membership of lobby groups including the Minerals Council of Australia and the role it plays in Australia’s climate and energy debate.Global investors worth $84bn have joined together to file a shareholder motion calling on Rio Tinto to rethink its membership of the MCA, NSW Minerals Council (NSWMC) and the Queensland Resources Council (QRC). It demands Rio Tinto reveal all membership fees paid since 2012, review the consistency of the MCA’s lobbying positions with those held by Rio Tinto, and disclose what it would take for Rio to quit its membership of the MCA. Related: Rio Tinto investors recruited to force mining giant to quit Minerals Council Related: Minerals Council of Australia kicks off coal power campaign despite BHP ​threat Continue reading...